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In a strategic move to enhance efficiency and bolster growth, McDonald’s has entered into a groundbreaking partnership with Alphabet’s Google. The fast-food giant aims to leverage artificial intelligence (AI) as a pivotal element in its growth plan, extending through 2027. This collaboration underscores the pervasive influence of AI across diverse industries, with even the likes of McDonald’s recognizing its potential for transforming customer experiences and operational efficiency. The four pillars of McDonald’s growth plan In a recent annual investor update on December 6, McDonald’s management delineated four core pillars constituting its growth plan. Among these pillars, AI emerges as a significant player alongside overarching initiatives like marketing and new restaurant development. The company envisions AI as a catalyst for positive change, targeting improvements from both customer and employee perspectives. McDonald’s identifies several areas where AI can revolutionize its operations, ultimately translating into tangible benefits for customers and investors alike. The integration of generative AI is expected to streamline various processes, including inventory management and adapting to localized demand shifts. Sundar Pichai, CEO of Alphabet, expressed enthusiasm about the collaboration, stating, “We’re excited to see how McDonald’s will use our cloud, generative AI, and edge computing tools.” The anticipated outcomes of this collaboration include reduced order wait times and the promise of serving hotter, fresher food to customers. McDonald’s predicts a direct correlation between these improvements and key investing metrics, particularly comparable-store sales growth. Monitoring success through key metrics For investors keen on tracking the impact of this partnership, focusing on specific trends will be crucial. A primary indicator is customer traffic, particularly in McDonald’s core U.S. market. The recent quarter saw a decline in this metric, possibly influenced by increased promotional activities by competitors. However, McDonald’s attributed its earlier successes in 2023 to fundamental improvements in food preparation and order…

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Filed under: News - @ December 15, 2023 8:10 pm